FA Resolution 2016-001RESOLUTION NO. FA 2016 - 001
A RESOLUTION OF THE LA QUINTA FINANCING
AUTHORITY APPROVING A BUDGET FOR FISCAL YEAR
2016/2017
WHEREAS, each year the La Quinta Financing Authority adopts a Budget for
Revenues and Expenditures for the upcoming Fiscal Year; and
WHEREAS, the Financing Authority desires to make provisions for a level of
services commensurate with the needs of the City; and
WHEREAS, the Financing Authority has reviewed said budget and has had
several public meetings to receive public input; and
WHEREAS, the Financing Authority has, after due deliberation and
consideration, made such amendments in the proposed budget as it considers
desirable; and
NOW, THEREFORE, BE IT RESOLVED by the La Quinta Financing Authority to
adopt, as follows:
SECTION 1. The Fiscal Year 2016/2017 Budget which is on file with the La Quinta
Financing Authority Secretary is hereby approved.
SECTION 2. Budget adjustment procedures are approved as follows:
A. Additional .appropriations and the transfer of cash . or unappropriated fund
balance from one fund to another shall be made only upon Financing Authority
approval.
B. Transfers of budgeted appropriations between divisions or capital projects shall
be made only upon Financing Authority approval.
C. Transfers of budgeted appropriations between accounts within a division or
capital project may be made with the approval of the Executive Director or his
designee.
D. Prior year budget continuing Appropriations and Encumbrances for unexpended
capital project appropriations remaining from uncompleted prior year capital
projects shall be made with Executive Director approval. These carry-over
appropriations are for prior year Financing Authority approved capital projects
and shall not exceed the approved project budget.
Resolution No. FA 2016-001
Budget Approval FY 2016/2017
Adopted: June 21, 2016
Page 2 of 2
SECTION 3. The Executive Director shall render a monthly report on the status of City
operations as it relates to the approved budget and any amendments thereto.
PASSED, APPROVED, and ADOPTED at a regular meeting of the La Quinta
Financing Authority held on this 21st day of June, 2016, by the following vote:
AYES: Authority Members Franklin, Osborne, Pena, Radi, Chair Evans
NOES: None
ABSENT: None
ABSTAIN: None
ATTEST:
SUSAN MAYSELS, Secr
ry
La Quinta Financing Au hority
(SEAL)
APPROVED AS TO FORM:
LINDA EVANS, Chairperson
La Quinta Financing Authority
WILLIAM IHRKE, Authority Counsel
La Quinta Financing Authority